KSE index loses 172 points to close at 7491 in Pakistan
Pakistan Times Business & Commerce Desk

KARACHI: Karachi Stock Exchange (KSE) today backtracked from yesterday’s refreshing buoyancy to obnoxious pessimism of the investors who were out for profit taking at all cost and thus spoiling the smooth sail by taking the winds out of it.

KSE-100 shares index came reeling down by 172 to 7491 at the close of business.

The day began with a slight bearish trend, but PTCL remained in the positive zone in morning hours, but later the rush for selling by investors in haste to book their profits started pulling down the market.

OGDC, PPL and PSO shares also witnessed panic selling from the very morning. However, cement sector showed resilience to stay in positive zone mainly due to recent cement price-hike across the country. D.G. Khan spearheaded the cement sector.

Volume leader PTCL closed at Rs.68.55, down by Rs.2.10. Among other prominent companies, OGDC closed at Rs.104.75, shed by Rs.4.05, while National Bank at Rs.104.50, slashed by Rs.1.65.

The turnover as against yesterday shot up by 28.4 million shares to 312.6 shares, while transactions in future contracts worked out to 106.2 million shares.●